Tesla Model 3 Prices Rise In China As Refreshed Model Y Debuts

EV giant Tesla Inc. (NASDAQ:TSLA) has hiked the price of all variants of its cheapest offering, the Model 3 in China by 3,600 yuan (about $491).

What Happened: The base variant of the Model 3 now starts at 235,500 yuan in China, up from 231,900 yuan.

While the long-range all-wheel drive variant now starts at 275,500 yuan, the performance variant starts at 339,500 yuan.

The estimated wait time for all three variants continues to be 1-3 weeks.

Why It Matters: Tesla also launched a refreshed Model Y in China on Thursday. The refreshed vehicle starts at 263,500 yuan on Tesla's website, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan. 

China is an important market for Tesla. In 2024, the company reportedly sold around 657,000 vehicles in China, marking a growth of 8.8% year-on-year, even while its global annual deliveries fell as compared to 2023.

Tesla reported global deliveries of 1.79 million vehicles in 2024, down from full-year deliveries of 1.81 million in 2023, marking the first decline in over a decade.

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Photo courtesy: Tesla